HUD describes the grants as necessary to help low-income seniors remain in their own homes and avoid having to move into a congregate care setting.
The U.S. Department of the Treasury released new guidance about the American Rescue Plan, detailing that certain borrowers of nontraditional mortgages — including reverse mortgages — may qualify for aid under the law.
While foreclosures are set to resume in August, the Federal Housing Administration (FHA) has extended a ban on foreclosure-related evictions after urging from the Biden administration which affects the Home Equity Conversion Mortgage (HECM) program.
A new column published by the American Institute of Certified Public Accountants (AICPA) describes how reverse mortgages have evolved into a potentially viable financial planning tool for certain clients.
HUD and FHA have reiterated the importance of mortgage servicers in both the reverse and forward spaces to communicate available relief options for borrowers impacted by the pandemic.
A senior FHA official described to an audience of reverse mortgage professionals how the recently-passed American Rescue Plan will impact senior borrowers, and optimism surrounding FHA’s ongoing work with reverse mortgage practitioners and stakeholders.
The Federal Housing Administration has issued new updates to the Single Family Housing Policy Handbook 4000.1, including in sections with direct relevance to the reverse mortgage industry.
Federal Housing Administration (FHA) Deputy Assistant Secretary (DAS) for Single Family Housing Julienne Y. Joseph provided an update on the performance of the Home Equity Conversion Mortgage (HECM) program, and offered additional thoughts about its importance to American seniors.
Federal Housing Administration (FHA) Deputy Assistant Secretary (DAS) for Single Family Housing Julienne Y. Joseph described for reverse mortgage professionals the importance she ascribes to the reverse mortgage program given her firsthand experience with it as an originator.
After months of vacancies after both the inauguration of President Joe Biden and the swearing-in of HUD Secretary Marcia Fudge, the Department has moved to fill several key positions as of Friday.